Wallet Security: Best Practices for Keeping Your Crypto Safe
A crypto wallet can be a physical device or online platform that keeps your private and public keys so you can carry out transactions.
Company Name: KUNA
Company Description: crypto exchange
Service: Penetration Testing
A short story of why we need exchanges
Imagine you find yourself on a deserted island with a huge bag of gold and dollars (and even a few Bitcoins). You are rich — you can purchase anything you want. However, you’ll never use your money: there is no one to trade with. Your money is useless because you cannot exchange it on goods.
That is why exchanges came around.
They connect buyers and sellers and allow the two groups to negotiate prices. Crypto exchanges allow users to trade digital assets, this ensures circulation and liquidity of cryptocurrencies. Importantly, users have to trust their assets and provide personal information for exchanges. Therefore, users care about the security of their assets and personal information.
How can I check whether a given exchange is safe and trustworthy?
It takes two simple steps. First, look for a secure connection icon (a lock) to the left of the link and make sure that the website runs an HTTPS protocol. Secondly, read user reviews and check whether the exchange has ever been hacked. This advice will allow you to get the basic information about the safety of an exchange.
How can an exchange become safer?
If you are a developer of a crypto exchange and want to perform an in-depth testing of it, you can contact white hat hackers. Hacken’s team is proficient in cybersecurity and penetration testing, so we took the challenge to review one of the most promising exchanges in Eastern Europe — Kuna.
Distributed Lab, the developers of the exchange, is a major player in the Blockchain sphere in Eastern Europe. Nowadays, they run educational classes, create custom tokenization platforms, and organize Blockchain conferences in Kyiv.
Read more details of how Hacken performed penetration testing of Kuna
Summing Up
During the testing process, white hats explored multiple ways to take over the exchange. They attempted to hack Kuna by getting remote access to different accounts, obtaining funds from user wallets, and performing a variety of other attacks. Notably, Hacken’s white hats did not discover critical flaws in Kuna’s system. The analysis detected several minor issues but they didn’t present substantial threats to funds, users, personal data, and trading processes.
In general, penetration testing and cybersecurity audits of Kuna went smoothly. Hacken white hats were glad to have this experience and now aim for more. The services of crypto exchange assessment and penetration testing are now available at Hacken.
About Hacken
At Hacken, we take security extremely seriously, and all the checks are performed according to the highest standards. If you have any questions about the topic or need a consultation, feel free to contact our Team!
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More details of how Hacken performed penetration testing of Kuna
